The EUR/GBP is trading at 0.8013 as the euro continues to gather strength against the crosses. There was little in the way to support the pound, except a mixed neutral employment report which showed a drop in claims. Markets were more reactive to the news from Germany where the Courts declared the ESM and ESFS legal.

Today is all about the upcoming FOMC meeting, as markets react and prepare for Mr. Bernanke tomorrow. No one is sure if and when the Feds will introduce stimulus or in what fashion or amount, so markets are a bit stand offish waiting to hear what the decision are.

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